The total figure listed in “Discretionary trading” is my real trade figure.
Totals for the day
Discretionary trading: (+.82%) (+$204.99)
All times on the charts are Mountain Standard Time.
UWM – Long (+.82%) My only real trade for the day
SSO – Long (-.72%) paper-trade
UWM – Long (-.78%) paper-trade
Gapers: (+.36%) paper-trading
ERIC – Long (+.36%)
10k strategy: (+.43%) paper-trading
All times on the charts are Eastern Standard Time.
No trades
5 comments:
Nice man, do you ever take a portion off and trail the rest with a stop?
By the way, thanks for commenting on my vids man, I really appreciate it. I am always looking for feedback.
Thanks, and no I never do, especially in this market.
No prob, I also enjoy yours (and other's) comments on my blog :).
What do you mean "Especially with this market"? Can you give me a detailed explanation of what that means?
Oh what I mean by that is things have been choppy/flat lately (except for maybe the first/last hour or 2), so looking for longer runs have been harder to predict. Therefore it's better to scalp, vs. holding on to a block of shares (at least for me it’s been that way).
I also just plain don’t like the idea of exiting some/most of my shares, but keeping some for “just in case.” When you do that it starts to become more of a gamble than a trade (IMO). For me and the way I trade it’s either pick a stopgain (Discretionary trading), or run a trailing stop on all your shares (10k).
Now if things changed and the market decided to trend nicely most of the day, I would likely run a trailing stop on all of my shares like I do in the 10k strategy.
Gotcha, I tend to take off a portion recently and set my stop to break even and trail the rest, because I tend to trade areas that have high R/R and I am looking for prices to retrace a good amount. Its been doing me well. A few days I have been able to get like +8% and +6% instead of my usual 2%. To each his own though.
IMO the markets are never really a "Gamble" but they are uncertain, thats why I hold a small position after taking some profit. I believe that there is a possibility of prices continuing farther. And if not, I am stopped out and have still made a profit for the day more often than not.
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